Statoil boosts UK gas supplies

13 May 2015, News Wires – Norway’s Statoil has increased by nearly 50% the volume of gas it will deliver to UK player Centrica under an existing supply deal

Statoil will now supply 7.3 billion cubic metres of gas per annum to Centrica, up by 2.3 Bcm from the original figure of 5 Bcm agreed under the 10-year supply pact signed by the pair in 2011, with deliveries due to start in October.

The increased supply volumes equate to about 10% of the UK’s total gas demand of 70 Bcm per annum.

The gas will be supplied through existing pipeline infrastructure from the Norwegian continental shelf, Statoil said in a statement.

“The new agreement was made at market terms and conditions,” Statoil said.